Long-suffering shareholders of China Huarong Asset Management are in for more pain, says petesweeneypro
China Huarong Asset Management on Aug. 29 reported a 158 million yuan net profit in the first six months of 2021.
The state-owned asset manager also released long-delayed performance figures for 2020, in which it declared a loss of $16 billion. Subsidiary Huarong International Financial Holdings reported a total comprehensive loss of HK$288 million for the same period.The logo of China Huarong Asset Management Co is seen at its office in Beijing, China, April 16, 2021. REUTERS/Thomas Peter - RC2SWM93IP9W
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